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متابعة

Net profit for the year $.13,000. Interest received in advance on 1-1-2011 $1000 and 31-12-2011 $ 2000. Cash from operation will be?

<p><strong> A.$12,000</strong><strong> B.$8000</strong><strong>C.$14,000</strong><strong>D.$10,000</strong></p> <p><strong>E. Non of these.</strong></p>

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تم إضافة السؤال من قبل VENKITARAMAN KRISHNA MOORTHY VRINDAVAN , Project Execution Manager & Accounts Manager , ALI INTERNATIONAL TRADING EST.
تاريخ النشر: 2014/12/04
Lesley Lanag CMA CPA
من قبل Lesley Lanag CMA CPA , Senior Accountant , Takaful Emarat Insurance (P.S.C)

Ans.  (C)  14,000

 

Net profit

Add: Increase in interest received in advance

= Cash from operation

Vinod Jetley
من قبل Vinod Jetley , Assistant General Manager , State Bank of India

I agree with Lesley.

Malik Khalid Mahmood
من قبل Malik Khalid Mahmood , Regional Finance Manager , Leosons International FZ LLC

Option E

Fawzy Ahmed Salim El-Shabiby
من قبل Fawzy Ahmed Salim El-Shabiby , Accountant , Servtel Information, Security, and Telecommunication Network Limited

Ans: (D)10,000

MALIIK SOHAIL ABBAS
من قبل MALIIK SOHAIL ABBAS , ACCOUNTS MANAGER , AL RAWDAH GREEN SWEET WATER

option C is the correct

Mohamed Billow
من قبل Mohamed Billow , Financial & Tax Consultant , Mabrook Computers Limited, Hu One Constructions Limited, Aqsa Investment Limited and Hanat Ltd

The Answer is A.12000 according to profit/loss/income statement accounting and Balance sheet/financial position............. Interest received in advance is prepayment which is considered as a liability until when the time related to such transaction and obligation are due and performed henceforth the profit for year of13000, add the1000 interest advance earning0n the beginning of year since it must have materialized and subtract the2000 advance interest earned at the end of the year and consider it as a liability in the books of account until it related time in future.

 

For Cash from operation, All the received interest advance will be debited with that is the2000 at the end of2011 and subtract the1000 already consider as income due to it maturity. then the Answer will be C.14000 according to cash flow statement accounting.

Alex Al Yazouri
من قبل Alex Al Yazouri , General Manager , Al Mushref Cooperative Society

C) $14,000

Ibrahim Abusafiah
من قبل Ibrahim Abusafiah , VAT Consultant , RSM Allied Accountants

The answer is A

0

net profit + net  increase in Advance interest

0+()=0

 

georgei assi
من قبل georgei assi , مدير حسابات , المجموعة السورية

E

هل تحتاج لمساعدة في كتابة سيرة ذاتية تحتوي على الكلمات الدلالية التي يبحث عنها أصحاب العمل؟